Source: Twitter/ Shekel Brainweigh
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  • Shekel Brainweigh (SBW) receives firm commitments to raise over $1.3 million to fast-track its technology
  • The Israel tech company will issue over 6.8 million shares for 20 cents per share, a 16.66 per cent discount to the last closing price
  • Funds from the raise will be used to speed up retail innovation and fast-track technology commercialisation in the US and Europe and increase manufacturing capacity
  • Following the placement, SBW intends to conduct an offer of new shares under a share purchase plan (SPP) to raise a further $1.6 million
  • On the market today, SBW is down 14.6 per cent and trading at 20.5 cents per share

Shekel Brainweigh (SBW) has received firm commitments to raise over $1.3 million to fast-track its technology.

The Israel tech company will issue over 6.8 million shares for 20 cents per share, a 16.66 per cent discount to the last closing price.

Funds from the raise will be used to speed up retail innovation and fast-track technology commercialisation in the US and Europe and increase manufacturing capacity.

The settlement of this placement is scheduled to take place on December 21.

Shekel develops weighting technology for the healthcare, retail and industrial sectors. Notably, Its digital weighing technology has been implemented into self-checkout systems and more recently, vending machines.

Following the placement, SBW intends to conduct an offer of new shares under a share purchase plan (SPP) to raise a further $1.6 million.

The SPP will provide each eligible shareholder with the opportunity to apply for up to $30,000 worth of new shares at the same price as the placement.

An SPP booklet will be sent to shareholders on or about December 23.

On the market today, SBW was down 14.6 per cent and is trading at 20.5 cents per share at 1:53 pm AEDT.

SBW by the numbers
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